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| Content Provider | Springer Nature Link |
|---|---|
| Author | Gerkman, Linda |
| Copyright Year | 2011 |
| Abstract | The aim of the paper is to model small scale neighbourhood in a house price model by implementing the newest methodology in spatial econometrics. A common problem when modelling house prices is that in practice it is seldom possible to obtain all the desired variables. Especially variables capturing the small scale neighbourhood conditions are hard to find. If there are important explanatory variables missing from the model, the omitted variables are spatially autocorrelated and they are correlated with the explanatory variables included in the model, it can be shown that a spatial Durbin model is motivated. In the empirical application on new house price data from Helsinki in Finland, we find the motivation for a spatial Durbin model, we estimate the model and interpret the estimates for the summary measures of impacts. By the analysis we show that the model structure makes it possible to model and find small scale neighbourhood effects, when we know that they exist, but we are lacking proper variables to measure them. |
| Starting Page | 283 |
| Ending Page | 298 |
| Page Count | 16 |
| File Format | |
| ISSN | 14355930 |
| Journal | Journal of Geographical Systems |
| Volume Number | 14 |
| Issue Number | 3 |
| e-ISSN | 14355949 |
| Language | English |
| Publisher | Springer-Verlag |
| Publisher Date | 2011-03-20 |
| Publisher Place | Berlin, Heidelberg |
| Access Restriction | One Nation One Subscription (ONOS) |
| Subject Keyword | Impact estimates House prices Omitted variables Small scale neighbourhood Spatial Durbin model Geographical Information Systems/Cartography Simulation and Modeling Computer Application in Social and Behavioral Sciences Regional/Spatial Science Quantitative Geography Landscape/Regional and Urban Planning |
| Content Type | Text |
| Resource Type | Article |
| Subject | Earth-Surface Processes Geography, Planning and Development Economics and Econometrics |
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